PARSIPPANY, N.J., May 2, 2013 /PRNewswire/ -- Actavis, Inc. (NYSE: ACT) today reported net revenue increased 24 percent to $1.90 billion for the first quarter 2013, compared to $1.52 billion in the first quarter 2012. On a non-GAAP basis, diluted earnings per share for the first quarter 2013 was $1.99, compared to $1.64 per diluted share in the first quarter 2012, an increase of 21 percent. GAAP earnings (loss) per share for the first quarter 2013 was ($0.79), compared to $0.43 per diluted share in the prior year period. The current quarter loss for GAAP purposes includes $270 million, or $1.77 per share, of charges related to the acquisitions of the legacy Actavis Group in November of 2012 and Uteron Pharma SA in January of 2013.
For the first quarter 2013, adjusted EBITDA was $463.6 million, compared to $367.3 million for the first quarter 2012.
Cash and marketable securities were $337.4 million as of March 31, 2013.
"The new Actavis is off to a strong start in 2013, and as a result, we are increasing our 2013 forecast based on the strong performance and execution against our objectives to date," said Paul Bisaro, President and CEO.
"Actavis Pharma launched a number of new products in the U.S. during the quarter, including a generic version of Suboxone® sublingual tablets and in April launched an authorized generic version of Zovirax® ointment 5%. We also announced patent settlements for generic versions of Crestor®, Exalgo®, Ziana®, Zyclara®, Intuniv® and the abuse deterrent version of OxyContin®, ensuring consumers will benefit from entry of these products prior to patent expiry. We experienced strong growth in our markets outside of the U.S., with notable launches in our international markets inclu
|SOURCE Actavis, Inc.|
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